The first loan for work in a colonized area, this project focuses on improving the production and standard of living in the Belgium Congo, while also mitigating the foreign exchange impact on Belgium.
The loan, the first made for work in a colonized area, is designed to remove the chief limitations on economic development of the Belgium Congo; namely, the shortage of transport and electric generating capacity, and a lack of qualified labor. It will do this by means of two linked loans, one to the Belgian Congo based on the foreign exchange requirements for the country's Ten Year Plan for the Economic and Social Development, and one to Belgium based on the foreign exchange impact on Belgium of the aforementioned plan. These linked loans are expected to expand production, raise the standard of living, and increase exports.
The profile contains project and financial information and lists of project documents and archival records.
Mr. Dequae, Minister of Colonies of Belgium, writes to President Black regarding the questionnaire and a visit by the Bank's representatives (1535586).
The report contains information on the Bank's mission to Brussels for preliminary negotiations with Belgian officials (1535586).
The World Bank announces approval of two 25-year loans, totalling $70 million, to assist in the 10-Year development plan of the Belgian Congo (1535589).
Pediatric nurse at work (1716470; Credit: The World Bank).
Pictured at the signing are World Bank President Black; Mr. Jean Van Houtte, Minister of Finance of Belgium; and Mr. Marcel Vanden Abeele, Administrateur General, Belgian Ministry of Colonies (1716470; Credit: The World Bank).
The report describes the loan, appraises it, ensures that the loan is in compliance with the Bank's Articles of Agreement, and recommends that the loan be granted.
An article on Hector Prud'homme's visit to the Belgian Congo titled “Mission to the Belgian Congo” is on page 5.
The transcript contains discussion of the linked loans to the Belgian Congo and Belgium.
On pages 26-29 of the transcript, Cope discusses the loans for the Belgian Congo.
On pages 1-7 of the transcript, Kamarck discusses in detail the loan for the Belgian Congo.
On page 10 of the transcript, Schmidt describes meeting with the British, French, and Belgian colonial powers regarding potential loan applications.